Have you ever seen a house come on the market with another agent that you had represented the buyers on? Have you ever heard through the grapevine that a previous client bought a home using another realtor? So have I. Why does that happen?
They don’t remember you!
YOU DIDN’T DO A BAD JOB DURING THE FIRST TRANSACTION
According to a recent poll by the National Association of Realtors, 89% of buyers said they would absolutely use the same agent to sell their home. Only 12% actually did. This information tells me that the lack of repeat business doesn’t come from unhappy customers – 89% of buyers said they had a great experience and would use you again – it comes from simply not remembering you.
YOU ARE NOT AS MEMORABLE AS YOU THINK YOU ARE
As much as we’d like to think that we, as realtors, make such an impression on our clients that they think about us all the time, we don’t. Unfortunately, there are no discussions during family dinners about how fantastic Dusty Baker is. Another survey conducted by the NAR showed that only 9% of people can remember their realtor’s name after only 2 years. This statistic should make you queasy. If your past clients don’t even remember your name after 2 years, what are the odds they use you when they list their home or buy a new one?
*Fun fact: Look at the numbers between the two surveys: 12% of people use the same agent but only 9% remember their name after 2 years. That tells me that 3% of the people that re-use their agents actually had to look them up in their phone to remember their name. How embarrassing!
PEOPLE NEED 33 ”TOUCHES” A YEAR TO REMEMBER YOU
Keller Williams conducts constant research to stay up to date with the real estate market. One aspect of their research focuses on client retention and how to gain repeat business. They found that people need, on average, thirty-three “touches” per year to remember you. Because of this, they created an email drip called “33 Touch” that we use for clients. If you aren’t at a Keller Williams to utilize this drip system, you can still use this information in your business. Make sure to text, call, email, or meet up with past clients about once every 2 weeks.
ASK ABOUT THEIR “F.V.H.” – FAMILIES, VACATION PLANS, HOBBIES
An easy way to connect with past clients without feeling like a salesman is to ask about their “F.V.H.’s.” Ask how their kid’s soccer team is doing. Ask if they have any vacation plans this Winter. Ask if they’ve gotten out in the water to surf recently. Don’t bring up real estate, they already know what you do for a living!
MY CHALLENGE: 30 MINUTES A DAY OF “TOUCHES”
Spend 30 minutes a day touching base with previous clients. In this modern age, you can get a lot done in 30 minutes! Make 5 phone calls, “like” 5 clients’ pictures on Instagram, comment on 5 clients’ Facebook walls, and call it a day. If you did that every day you would have 3,900 touches a year.